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- 1 Floki crypto shows selling pressure and is heading toward the demand zone of $0.0001044715.
- 2 In the past few sessions, sellers have gained momentum and looked aggressive.
The Floki crypto price has struggled to surpass and remain below the significant resistance level. To move towards recovery, more buyers are needed to support an upward movement. However, the current trading volume is low, which indicates a lack of interest and momentum. Additionally, Floki cryptos have broken below the 20 and 50-day daily moving averages, which are bearish signals.
Last week, Floki crypto price lost 4.26%, and in the past month, it fell by 31.98%. In the past six months, FLOKI crypto has witnessed an incline of about 401.13%, but they have also plunged by 361.60% over the past year. The FLOKI crypto price has dropped by around 367.64% year to date, reflecting recent weakness.
Technical indicators suggest a downside trend for Floki’s crypto price. Both the Relative Strength Index and Moving Average Convergence Divergence indicate the slippage of Floki crypto price. The price currently requires substantial support from the buyers to recover, as it faces significant resistance from previous resistance points and multiple moving average levels. Candlestick patterns show that buyers are pulling the price action into their grasp.
While the price may soon attempt to make a bullish recovery, it is trading below key EMA levels, and buyers will have to face multiple resistance levels to attain the target. Currently, buyers are making continuous efforts to take charge of the trend. Overall, the technical indicators and price action suggest Floki crypto is bearish, and the downtrend may continue.
Floki crypto has recently experienced a decline in value due to traders’ selling pressure and profit-taking. On the short-term charts, the price has dropped below the key EMAs, indicating further weakness in the crypto.
The RSI curve is currently near the oversold region at 38 and suggests a negative outlook, indicating bearishness in the crypto. Furthermore, the MACD indicator shows red bars and a bearish crossover, which signals a corrective move.
Technical Analysis of the Floki Crypto
At the time of publishing, Floki crypto (USD: FLOKI) is trading below the 50 and 200-day EMAs (Exponential moving averages), supporting the price trend.
The current value of RSI is 45 points. The 14 SMA is above the median line at 45 points, which indicates that the Floki crypto is neutral.
The MACD line at -0.0000041951 and the signal line at -0.0000063526 are above the zero line. A bullish crossover in the MACD indicator signals more bullishness regarding the FLOKI crypto price.
Summary
The Floki crypto price struggles to surpass the significant resistance level and remains below it. To move towards recovery, more buyers are needed to support an upward movement. However, the current trading volume is low, which indicates a lack of interest and momentum. Technical indicators suggest a downside trend for Floki’s crypto price, and the downtrend may continue. Floki crypto has recently experienced a decline in value due to the selling pressure and profit-taking. The RSI curve is currently near the oversold region at 38 and suggests a negative outlook, indicating bearishness in the crypto. Furthermore, the MACD indicator shows red bars and a bearish crossover, which signals a corrective move.
Technical Levels
Support: $0.0001135663
Resistance: $0.0002680738
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
